ADB supports Uzbekistan trade with new partner bank
ADB's Trade Finance Program (TFP) brings in Aloqabank as its sixth partner bank in Uzbekistan through a $5 million loan agreement signed on 14 February. To date, TFP has supported trade in Uzbekistan worth $1.3 billion covering various sectors.
ADB's Myanmar project receives Deal of the Year award
The Myingyan Natural Gas Power Project, a 225 MW combined cycle gas turbine project with the first international best practice project financing in Myanmar, received the Asia Pacific Power Deal of the Year 2017 from Project Finance International on 7 February in London. ADB, through the Private Sector Operations Department, provided a package of A loan, B loan, and political risk guarantee as an anchor lender and guarantor to this milestone PPP project.
ADB holds private sector outreach in Mongolia
Mongolia Minister of Finance and ADB Governor Khurelbaatar Chimed and Deputy Prime Minister Enkhtuvshin Ulziisaikhan met with Indu Bhushan and Michael Barrow, Directors General of ADB's East Asia Department and Private Sector Operations Department, respectively, on 22 January in Ulaanbaatar to discuss measures to improve portfolio management, expedite project implementation, and identify opportunities for private sector support. The delegation also launched a private sector outreach workshop to introduce ADB's private sector operations focus and added value, support for infrastructure development, agribusiness, and access to finance to promote affordable housing.
Trade Finance Program trains bankers in Pakistan
ADB's Trade Finance Program (TFP) delivered training on 10 January in Karachi and on 12 January in Lahore for 80 bankers. Training was held in conjunction with the Institute of Bankers Pakistan. Since 2008, TFP has supported more than $12.16 billion in trade in Pakistan through 4,155 transactions.
ADB's Thai IPO receives Deal of the Year awards
ADB's Private Sector and Operations Department (PSOD) equity investment, as the largest cornerstone investor in the initial public offering of B.Grimm Power in Thailand, received Best IPO Deal in Southeast Asia 2017 from The Alpha Southeast Asia, and the Best IPO 2017 in Thailand from The Asset. ADB made its investment in June 2017 at THB16 per share and the latest closing price was THB30.5.
TFP as best Business Finance Provider in Asia
Trade Finance Global publication awarded TFP Best Business Finance Provider in Asia. TFP's business is up over 25% in 2017 compared with last year, and is anticipated to support over $3.7 billion in trade through over 2,500 transactions processed out of ADB geadquarters. TFP has supported over 2,312 SMEs in 2017. See related news.
ADB and SCB under Microfinance Risk Participation and Guarantee Program extend $325 million loans
Since 2013, ADB and Standard Chartered Bank (SCB) have collaborated through a risk participation arrangement to support the growth of the microfinance sector in Asia. So far, the partnership successfully facilitated the extension of 125 loans to 13 microfinance institutions in three countries, amounting to $325 million. Registration is required to download the report.
TFP holds anti-financial crime risks management workshop in Sri Lanka
ADB's Trade Finance Program held on 9 October in Colombo a workshop covering the management of financial crime risks and risk-based anti-money laundering measures with a focus on financing trade. More than 60 participants from Sri Lanka’s state and commercial banks and officials from the Central Bank and the Financial Intelligence Unit attended.
Vice-President Gupta notes key role of private sector financing in infrastructure
VP Gupta, in opening remarks at an event co-sponsored by ADB's Private Sector Operations Department on 4 May in Yokohama, stated that developing Asia needs to invest $26 trillion in infrastructure between 2016-2030, or $1.7 trillion a year, pointing out the changing landscape of infrastructure and private sector financing in the region. PricewaterhouseCoopers partner Manish Agarwal recommended that investors focus on a portfolio approach instead of an individual approach.
ADB supports China Everbright Greentech Limited listing
Jackie Surtani, ADB's Infrastructure Finance Division 2 Director, on 8 May toasted China Everbright Greentech Limited's initial public offering on the main board of the Hong Kong Stock Exchange. ADB's cornerstone investment has increased visibility of agricultural waste-to-energy and renewable energies in the market. By replacing fossil fuel combustion and avoiding methane, waste-to-energy technologies help avoid greenhouse gas emissions and mitigate severe air pollution.